Chapter 315 — Chapter 315

ORS 315.001 [Enacted as 1953 c.308 §1; repealed by 1965 c.26 §6]

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ORS 315.002 [Enacted as 1953 c.308 §2; repealed by 1965 c.26 §6]

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ORS 315.003 [Enacted as 1953 c.308 §3; repealed by 1965 c.26 §6]

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ORS 315.004 Definitions; adoption of parts of Internal Revenue Code and application of federal laws and regulations; technical corrections. (1) Except when the context requires otherwise, the definitions contained in ORS chapters 314, 316, 317 and 318 are applicable in the construction, interpretation and application of the personal and corporate income and excise tax credits contained in this chapter

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ORS 315.005 [Repealed by 1965 c.26 §6]

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ORS 315.010 [Amended by 1953 c.325 §3; repealed by 1965 c.26 §6]

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ORS 315.015 [Repealed by 1965 c.26 §6]

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ORS 315.020 [Repealed by 1965 c.26 §6]

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ORS 315.025 [Repealed by 1965 c.26 §6]

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ORS 315.030 [Repealed by 1965 c.26 §6]

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ORS 315.035 [Repealed by 1965 c.26 §6]

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ORS 315.037 Tax expenditures applicable for limited time. (1) As used in this section, “tax expenditure” has the meaning given that term in ORS 291.201

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ORS 315.040 [Repealed by 1965 c.26 §6]

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ORS 315.044 Statement of purpose. For each proposed legislative measure that is submitted for filing and that creates a tax credit or provides for expanded allowance, in amount or duration, of tax credit, the chief sponsor or a proponent of the measure shall submit to a legislative committee related to revenue a statement of purpose. In the statement of purpose, the chief sponsor or proponent shall address at a minimum the items forming the basis of the report required under ORS 315.051. [2015 c.641 §2]

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ORS 315.045 [Repealed by 1965 c.26 §6]

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ORS 315.047 List of tax credits with revenue impact in excess of projection. (1) Prior to the beginning of each odd-numbered year regular session, the Legislative Revenue Officer shall prepare a list of all tax credits that have revenue impact, for the most recent tax year for which sufficient information exists to make a determination, that exceeds the revenue impact projected in the most recent revenue impact statement prepared under ORS 173.025 for the measure enacting or amending the tax credit provision. The Legislative Revenue Officer shall submit the list with the report required under ORS 315.051

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ORS 315.050 [2009 c.913 §53; 2013 c.750 §45; renumbered 315.037 in 2015]

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ORS 315.051 Report by Legislative Revenue Officer. (1) Prior to the beginning of each odd-numbered year regular session, the Legislative Revenue Officer shall submit a report addressing each income or excise tax credit that is scheduled to expire during the next even-numbered year. The Legislative Revenue Officer shall submit the report to a committee of the Legislative Assembly related to revenue, and may include information related to other tax credits in the report at the direction of an interim committee related to revenue. In preparing the report, the Legislative Revenue Officer shall seek input from the Department of Revenue, the Legislative Fiscal Officer and state agencies involved in administering any given credit

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ORS 315.052 Limitation on transfer or sale of credit. An income tax credit that is allowed under this chapter or ORS chapter 316, 317 or 318 and that is transferable may be transferred or sold only once, unless expressly provided otherwise by statute. [2009 c.288 §3]

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ORS 315.053 Restriction on types of transferees. An income tax credit allowed under this chapter or ORS chapter 316 or 317 that is transferable may be transferred or sold only to one or more of the following

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ORS 315.054 Federal tax credits allowable only as specified. No credits applied directly to the income tax calculated for federal purposes pursuant to the Internal Revenue Code shall be applied in calculating the tax due under ORS chapter 314, 316, 317 or 318 except those prescribed in this chapter or ORS chapter 314, 316, 317 or 318. [1993 c.730 §4 (enacted in lieu of 316.107)]

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ORS 315.055 [Repealed by 1965 c.26 §6]

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ORS 315.056 Conditions for transfer of tax credit. (1) Transfer of any transferable tax credit that is allowed under this chapter or ORS chapter 316 or 317 and that is transferred on or after January 1, 2020, is conditioned upon compliance with this section and ORS 315.052 and 315.053

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ORS 315.058 Agency to provide tax credit approval information to Department of Revenue. (1) For any tax credit that is allowed under this chapter or ORS chapter 316 or 317 and for which certification, determination of eligibility or other approval from an agency other than the Department of Revenue is required and was issued on or after January 1, 2019, the department may require that the other agency provide information about the certification, determination of eligibility or other approval, including the name and taxpayer identification number of the taxpayer or other person receiving approval, the date the approval was issued in its final form, the approved amount of credit and the first tax year for which the credit may be claimed

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ORS 315.060 [Repealed by 1965 c.26 §6]

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ORS 315.061 Suspension, revocation or forfeiture. (1) Under the procedures for a contested case under ORS chapter 183, the director of the agency responsible for certifying or otherwise determining eligibility or granting approval for a tax credit allowed under this chapter or ORS chapter 316 or 317 may order the suspension, revocation or forfeiture of the tax credit approval or of a portion thereof if the director finds that

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ORS 315.063 Waiver of substantiation by Department of Revenue; rules. The Department of Revenue, by rule, may waive partially, conditionally or absolutely requirements for proof or substantiation of claims for subtractions, exclusions, exemptions or credits allowable for purposes of taxes imposed upon or measured by net income. [1995 c.54 §2]

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ORS 315.065 [Repealed by 1965 c.26 §6]

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ORS 315.068 Claim of right income repayment adjustments. (1) A credit against the taxes otherwise due under ORS chapter 316 (or, if the taxpayer is a corporation, under ORS chapter 317 or 318) shall be allowed to a taxpayer for a claim of right income repayment adjustment

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ORS 315.070 [Repealed by 1965 c.26 §6]

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ORS 315.075 [Repealed by 1965 c.26 §6]

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ORS 315.080 [Repealed by 1965 c.26 §6]

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ORS 315.085 [Repealed by 1965 c.26 §6]

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ORS 315.090 [Repealed by 1965 c.26 §6]

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ORS 315.095 [Repealed by 1965 c.26 §6]

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ORS 315.104 Reforestation; rules. (1) A credit against the taxes otherwise due under ORS chapter 316 (or if the taxpayer is a corporation, under ORS chapter 317 or 318) shall be allowed in an amount equal to 50 percent of reforestation project costs actually paid or incurred to reforest underproductive Oregon forestlands. Such costs include, but are not limited to, any fees established by the State Forester under ORS 315.106 (4), site preparation, tree planting and other silviculture treatments considered necessary by the State Forester to establish commercial, hardwood or softwood stands on appropriate sites. Subject to subsection (5) of this section

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ORS 315.105 [Repealed by 1965 c.26 §6]

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ORS 315.106 Reforestation credit preliminary certificate; application; limitation calculation; rules; fee. (1) A taxpayer claiming the credit provided under ORS 315.104 shall file a written request with the State Forester for a preliminary certificate. The request shall contain

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ORS 315.108 Annual reforestation credit cost limitation. (1) On or before January 1, 1996, the State Forester shall determine an average annual amount of estimated reforestation project costs for which credit was claimed under ORS 315.104 (1)(a) during the period from July 1, 1992, to July 1, 1994

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ORS 315.110 [Amended by 1953 c.665 §2; repealed by 1965 c.26 §6]

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ORS 315.111 Legislative declarations regarding riparian land conservation. The Legislative Assembly declares that the purpose of ORS 315.113 is to encourage taxpayers that have riparian land in farm production to voluntarily remove the riparian land from farm production and employ conservation practices applicable to the riparian land that minimize contributions to undesirable water quality, habitat degradation and stream bank erosion. [2001 c.912 §2]

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ORS 315.113 Voluntary removal of riparian land from farm production; rules. (1) As used in this section

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ORS 315.115 [Repealed by 1965 c.26 §6]

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ORS 315.117 Legislative findings and declarations regarding on-farm processing. The Legislative Assembly finds that farming and related agricultural activities make significant contributions to the economy of this state and that the contributions of family farms are important in maintaining the agricultural diversity upon which consistent economic performance is based. The Legislative Assembly further finds that changes in the marketplace and in the expectations of consumers of agricultural products have resulted in a need for greater vertical integration and on-farm processing of agricultural commodities. The Legislative Assembly declares that an income tax credit for property taxes paid on on-farm processing machinery and equipment encourages the continued operation and expansion of on-farm processing and results in a greater share of the value of agricultural products being retained by the farms in this state. The Legislative Assembly further declares that an incentive in the form of an income tax credit does not adversely impact the revenues of local governments in this state. [2001 c.725 §2]

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ORS 315.119 On-farm processing facilities. (1) As used in this section

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ORS 315.120 [Amended by 1953 c.132 §3; repealed by 1965 c.26 §6]

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ORS 315.123 Minimum production and processing volume requirements; record- keeping requirements. (1) For the first three tax years in which a taxpayer claims a credit under ORS 315.119, a taxpayer shall be deemed to have complied with the applicable minimum production and processing volume requirements of ORS 315.119 (3)(c) if the taxpayer has satisfied these requirements for the preceding tax year

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ORS 315.124 Small forestland owner using standard practice harvest restrictions; rules. (1) As used in ORS 315.124 to 315.132

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ORS 315.125 [Enacted as 1953 c.197 §2; repealed by 1965 c.26 §6]

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ORS 315.126 Certification of eligibility from State Forestry Department; notice of operation; irrevocable deed restriction; department to maintain records. (1) In order to obtain certification of eligibility from the State Forestry Department for a tax credit allowed under ORS 315.124, a small forestland owner must

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